June is apparently a very busy time for our companies, so much so that we need two updates this month to cover the news already this month.

Proterra: Undermining the narrative that South Carolina companies never raise venture capital, Proterra announced its latest $55 million financing (in which VentureSouth members again participated - thanks pro rata rights!) (Forbes, WSJ.) Wonder what proportion of those that are "still in" will be buying electric buses or just creating their own hot air?

ActivEd: several big achievements, from a rollout across all Cherokee County Schools to a state-level budget proviso to fund Walkabouts in 250 more classrooms in South Carolina - taking ActivEd into over 50% of schools in the state. This is why this is important.

Building up products, teams, and revenues are (of course) crucial for growth. But we are always mindful of exit preparation, and so are pleased to see when portfolio companies add to their patent suite - making themselves more attractive to potential strategic buyers.

Congratulations therefore to Zipit (here - receiving its 10th patent), KIYATEC (here), Pharmright (here), and Brightfield (here) on expanding their patent portfolios in the last few weeks.

Atlas Organics Dirtbags hit the market! You can find the first available bags at the following locations tomorrow afternoon. Please help spread the word! Certified SC Product and STA Certified.Clean, high-quality compost - made with all organic materials - Not made with manures - we say, “No Doo Doo, No Kidding!”

And in the biggest news this month, Pete Durand and Rival Healthannounced a merger with gBehavior to create a comprehensive wellness platform with offices across the southeast. Congratulations to Pete and the team, and good luck on the next stage of the journey.

We are very pleased to contribute to Vendor Registry's seed round. Announced today, the $1.8 million financing is to continue its rapid expansion, to let more local governments obtain services more efficiently from vendors.

Angel groups frequently invest in partnership with other groups. In this case, we are delighted to be working alongside both southeastern partners (like the Chattanooga Renaissance Fund and Lighthouse Ventures) and new partners from further afield (Allos Ventures). And of course alongside Chris Van Beke and his talented team, who are already helping local government agencies do more with less.

We were very pleased to announce yesterday that VentureSouth members have invested in KWIPPED.

KWIPPED is an online platform that helps businesses and organizations wanting to rent specialized commercial equipment. The company assists with rentals in more than 500 equipment categories across 22 different industries. Its applications include medical and laboratory, audio-visual, construction, surveying, film production, power utility, and many more.

Nearly 500 suppliers have listed over $55 million of their assets available for rent, and many thousands of potential renters seeking equipment are registered with the platform.

VentureSouth is anchoring this $1 million Series A round of growth capital, which will be used to accelerate KWIPPED’s marketing efforts, increase the variety of equipment available for rental, and add sales and technology staff.

Members from across our network, from Asheville Angels to Lowcountry Angels in Charleston, and the VentureSouth Angel Fund II, participated in the investment. We wish Robert Preville and the rest of the KWIPPED team the best of luck growing the business - and will do whatever we can to help!

We begin our portfolio news this year with a BIG announcement - a $140 million round raised by portfolio company Proterra. This is genuinely exciting and national-scope news - congratulations to the team that is truly revolutionizing bus transportation.

It's also exciting news for UCAN and VentureSouth. Our members were able to participate in this financing - and did so with enthusiasm. We made a substantial investment (though of course a small proportion of $140 million!) - particularly for an angel group that had already invested repeatedly in the company in each every round since we first invested.

VentureSouth (via UCAN) first invested in the bridge round in 2011 that allowed the company to survive long enough to raise the first venture capital round from Kleiner Perkins. Since then, the company has gone from strength to strength. We'll explore on our blog some lessons learned from this investment. Look out for those.

It is still possible to invest in Proterra through VentureSouth. Contact us to learn more.

OB Medical: After announcing the LaborView at the AHWONN conference in June, maternal-fetal monitoring device manufacturer OB Medical began supplying their device to delivery rooms across the US. Congratulations to them too!

Some really impressive milestones in several different areas. And on a lighter note, Growjourney helped Paul boast impressive rows of broccoli, kale, lettuce, chard, and bok choy in his vegetable garden for the first time. Baby kale pairs well with (VentureSouth sponsor) RJ Rockers' Bellringer. Who knew?

Proterra Catalyst® E2 Series Sets New Industry Precedent with a Nominal Range of up to 350 Miles

Highest-performing bus on the road can serve toughest bus routes on a single charge

LOS ANGELES, Sept. 12, 2016 /PRNewswire/ -- APTA 2016 -- Today at the American Public Transit Association (APTA) Annual Meeting, Proterra, the leading innovator in heavy-duty electric transportation, unveiled the newest addition to its fleet of zero-emission vehicles: the Catalyst E2 series, named for its unprecedented Efficient Energy (E2) storage capacity of 440 - 660 kWh. Last month, an E2 series vehicle achieved a new milestone at Michelin's Laurens Proving Grounds where it logged more than 600 miles on a single charge under test conditions. Its nominal range of 194 - 350 miles means the Catalyst E2 series is capable of serving the full daily mileage needs of nearly every U.S. mass transit route on a single charge and offers the transit industry the first direct replacement for fossil-fueled transit vehicles. The high-mileage Catalyst E2 series joins the existing Catalyst FC and XR series vehicles, designed for circulator and intermediate-mileage routes, respectively.

The Future of Transit Arrives: Proterra Customers Across the U.S. Praise Electrified Transport Compelled by a total cost of ownership significantly lower than fossil fuel-based alternatives, transit agencies across the U.S. agree that diesel's dominance is waning, giving way to the economic and environmental benefits of battery-electric mass transportation.

The Proterra Catalyst E2 is capable of serving the full daily mileage needs of nearly every U.S. mass transit route on a single charge and offers the transit industry the first direct replacement for fossil-fueled transit vehicles.

J. Barry Barker, Executive Director, Transit Authority of River City: "TARC now has largest deployment of Proterra battery-electric buses east of the Mississippi. Providing both environmental benefits and cost savings, these buses are a symbol ofLouisville's sustainability efforts. We are proud of these positive impacts and to call Proterra a partner, as they pass this key milestone in their journey as the foremost transport innovator in the world."

Doran Barnes, Executive Director at Foothill Transit: "We just surpassed one million miles of revenue service with our battery-electric Proterra fleet, and we're looking forward to many more miles to come. Since our first EV bus procurement with Proterra in 2010, we knew that zero-emission buses were the future of mass transit. Now, with the new Catalyst E2, this vision is a reality. We're excited by the possibilities of an all-electric future."

Jonathan Church, Administrator at Worcester Regional Transit Authority (WRTA): "More and more, we're witnessing our neighbor agencies consider all-electric buses, as they see how well our Proterra buses have weathered some of the ugliest Northeast snow storms. We look forward to continuing our partnership with Proterra as their technology continues to expand within North America."

2.6 Million Miles and Counting

With annual sales already 220% higher than 2015, Proterra is experiencing a breakthrough year in the mass transit sector and expects the debut of the Catalyst E2 series to only further magnify this success. Doubling production in 2017 to serve unprecedented customer demand, Proterra will have both of its manufacturing lines in full operation in Greenville, S.C. and theCity of Industry, Calif. To date, Proterra buses across the United States have completed over 2.5 million miles of revenue service, displacing 540,000 gallons of diesel, and eliminating over 10 million pounds of carbon emissions.

"Proterra's primary goal has always been to create a purpose-built, high-performance electric vehicle that can serve every single transit route in the United States. Today, with the unveiling of the Catalyst E2 Series, that goal has been achieved," said Ryan Popple, CEO of Proterra. "The question is no longer who will be an early adopter of this technology, but rather who will be the last to commit to a future of clean, efficient, and sustainable mobility. With the Catalyst E2 offering a no-compromise replacement for all fossil fuel buses, battery-electric vehicles have now broken down the final barrier to widespread market adoption."

About Proterra: Proterra is a leader in the design and manufacture of zero-emission vehicles that enable bus fleet operators to eliminate the dependency on fossil fuels and to significantly reduce operating costs while delivering clean, quiet transportation to the community. Proterra has sold more than 312 vehicles to 35 different municipal, university, and commercial transit agencies throughout North America. Proterra's configurable EV platform, battery and charging options make its buses well suited for a wide range of transit and campus routes. With unmatched durability and energy efficiency based on rigorous U.S. certification testing, Proterra products are proudly designed, engineered and manufactured in America, with offices in Silicon Valley, South Carolina, and Los Angeles. For more information, visit: http://www.proterra.com and follow us on Twitter @Proterra_Inc.

"Cross pollination" of expertise between portfolio companies on "VC platforms" is one area where organized groups of VC and angels provide value to companies beyond simply capital.

It is especially pleasing to see local examples of portfolio companies being mutually supportive. Two VentureSouth companies, Pharmright and Zipit, announced today their development partnership. Zipit's expertise in Internet of Things communications fits perfectly into the Livi - allowing Livi's operators to securely and accurately monitor medication and patient interaction. Zipit gives more detail here, and the Charleston Post & Courier provides some more context for how this partnership helps seniors and others on multiple medications.